Jnlforester Jnlforester
  • 24-11-2020
  • Mathematics
contestada

Mike has $5,000. He deposits it in a bank that offers an annual interest rate of 4%. How long does he need to leave it in the bank in order to earn $1000 in interest?

Respuesta :

IKH IKH
  • 28-11-2020

Answer:

5years

Step-by-step explanation:

interest = ptr/100

1000=5000*t*4/100

1000*100/5000*4=time

5years=time

Answer Link

Otras preguntas

A ball rises vertically to a height h and returns to its original point of projection. What is the work done by the gravitational force?
what happened to Christians in japan in the 1620s?
How much fat should the average teen get daily?
Which comment is an example of constructive feedback? A) The ending of your essay didn’t make sense. Why don’t you add something exciting? B) no one enjoys rea
2. What effects did the difference in manufacturing have on the outcome of the Civil War?​
the average age of a husband,his wife and daughter three years ago was 27years and that of the wife and daughter five years ago was 20years.husband's present ag
Why is theatre considered a social event?
Slaves were traded, like other gods, throughout the region under Muslims society. True or False
15p!!!!What is the percent of change from 94 to 43? round to the nearest percent
Plzzz helppp me!!! And thank